NASDAQ:QQQ   POWERSHARES QQQ TRUST, SERIES 1
As an alternative to the IWM             play (posted below), here's a QQQ             setup:

Feb 12 103.5/116.5 short strangle
POP%: 75%
Max Profit: 1.55/contract
BPE: Undefined
Break Evens: 101.95/118.05
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